Correlation Between Deluxe and AMERICAN
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By analyzing existing cross correlation between Deluxe and AMERICAN INTL GROUP, you can compare the effects of market volatilities on Deluxe and AMERICAN and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Deluxe with a short position of AMERICAN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Deluxe and AMERICAN.
Diversification Opportunities for Deluxe and AMERICAN
Pay attention - limited upside
The 3 months correlation between Deluxe and AMERICAN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Deluxe and AMERICAN INTL GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMERICAN INTL GROUP and Deluxe is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Deluxe are associated (or correlated) with AMERICAN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMERICAN INTL GROUP has no effect on the direction of Deluxe i.e., Deluxe and AMERICAN go up and down completely randomly.
Pair Corralation between Deluxe and AMERICAN
If you would invest 1,488 in Deluxe on September 5, 2024 and sell it today you would earn a total of 853.00 from holding Deluxe or generate 57.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Deluxe vs. AMERICAN INTL GROUP
Performance |
| Timeline |
| Deluxe |
| AMERICAN INTL GROUP |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Deluxe and AMERICAN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Deluxe and AMERICAN
The main advantage of trading using opposite Deluxe and AMERICAN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Deluxe position performs unexpectedly, AMERICAN can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in AMERICAN will offset losses from the drop in AMERICAN's long position.| Deluxe vs. Criteo Sa | Deluxe vs. Emerald Expositions Events | Deluxe vs. Marchex | Deluxe vs. Integral Ad Science |
| AMERICAN vs. Boston Properties | AMERICAN vs. Smith Douglas Homes | AMERICAN vs. Boston Beer | AMERICAN vs. Ambev SA ADR |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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